2720 Washington St Wilmington, DE 19802-3536
- Retail space
- 1,533 SF
- 0.05 lot acres
Current Use by Public Records
- Retail space
Property Details for 2720 Washington St
- Year built
- 1899
- Construction
- CONCRETE
- Lot size
- 0.05 lot acres
- Property size
- 1,533 SF
- Zone code
- 26R-3
- Property type
- Retail space
- APN
- 26-015.40-098
- APU
- 2601540098
Description
This exceptional mixed-use property at 2720 N Washington Street in Wilmington, Delaware presents a unique investment opportunity. Boasting 2,636 square feet on a 0.05-acre lot, this corner property offers unparalleled visibility and accessibility. The building's versatile design allows for a seamless blend of commercial and residential use. The main floor, ideal for a variety of businesses, provides ample space for retail, a restaurant, daycare center, or other commercial ventures. The possibilities are numerous, catering to a wide range of entrepreneurial pursuits. Upstairs, the residential space comprises two bedrooms and one and a half bathrooms, providing comfortable living quarters. This space could serve as owner-occupied housing or generate additional income as a rental unit. The property's strategic location at the corner of N Washington Street offers excellent visibility and convenient access to Concord Avenue, Concord Pike, and Interstate 95, ensuring high traffic flow and easy commuting. This is a rare chance to acquire a thriving mixed-use property in a highly desirable Wilmington location, combining the benefits of business ownership with the convenience of residential living, or the potential for substantial rental income. The asking price is $175,000. This property is ready for immediate occupancy and offers significant potential for growth and return on investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $110,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $125,000
- 6.5%
- $125,000
- 7%
- $120,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $100,000
- Geo Method
- $105,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $110,000
- Retail
- $125,000
- Mixed-Use
- $110,000
- Hospitality
- $105,000
- Educational
- $100,000
- Residential Income
- $115,000
- Energy
- $130,000
- Income-Based Land
- $130,000
- Food Service
- $105,000
Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- New Castle
- State
- Delaware
- Longitude
- -75.5362
- Latitude
- 39.7579
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA